Friday, Nov 23, 2018
MARC has assigned a final rating of AAAIS(fg) to Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme. The outlook on the rating is stable.
Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rating of AAAIS(fg) /Stable was based.
For full details of the assigned rating, please see Masteel’s preliminary rating announcement on October 26. The complete analysis is provided in the Credit Analysis Report which is available on MARC’s website at www.marconline.com.my.
Contacts:
Hari Vijay, +603-2717 2937/ harivijay@marc.com.my;
Wan Abdul Muiz Wan Abdul Ghafar, +603-2717 2939/ muiz@marc.com.my.